Cautious Fed lifts stocks to record high, investors eye earnings lift

By Nichola SaminatherSINGAPORE (Reuters) - Global stocks scaled record highs on Friday, with Asian equities rising for the fifth straight session, as signs the Federal Reserve will pursue a gradual rate tightening path and hopes of a strong earnings season lifted appetite for risk assets.The MSCI World Index was marginally higher early on Friday, hitting a new all-time high. It is on track to end the week 1.6 percent higher. MSCI's broadest index of Asia-Pacific shares outside Japan advanced 0.25 percent to its highest level in two years. It's set for a 3.2 percent gain for the week. ...

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